International Council on Hotel Restaurant and Institutional Educa

Analysis

International Council on Hotel Restaurant and Institutional Educa is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in February 1950, 76 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, International Council on Hotel Restaurant and Institutional Educa reported income of $866k and spending of $970k, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $952k to $866k (-9.0%), an average of -2.3% a year. The sharpest change came in the year to December 2020, when income dropped by 38%. Over the whole period it spent 103% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, International Council on Hotel Restaurant and Institutional Educa sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within VA. Charities of a similar size with the same main cause include Maryland World Class Consortia Ltd ($866k), Rural Employment Opportunities Inc ($866k) and Japantown Community Benefit District Inc ($866k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 94% of the total. Compensation of current officers, directors and key employees was $140k (14% of expenses). Other salaries and wages came to $197k. At year end it held assets of $557k against liabilities of $148k, net assets of $410k. It reported 5 employees.